So many unfinished buildings what was it meant for?
I don't imagine Sihanoukville City is officially part of Belt & Road, but I suspect many Mainland Chinese banks, before the Evergrande collapse and maybe still(?), were happy to lend $ for rich, connected Chinese businessmen to build in Cambodia. In those cases, bank loans are the 'clean' initial cash.
(After the 400 million gift and back up from his dad, bank loans worked for Trump.)
(After the 400 million gift and back up from his dad, bank loans worked for Trump.)
That is how western companies do their business in 3rd world countries too. Even in Cambodia for almost 25 years the biggest "investment firm" was western owned.
administrator wrote: ↑Sat Jul 23, 2022 9:53 pm@Ephrium "To money launder you have to explain completely how your money is obtained."
Sure, if you are inside China or the developed world. However this is Cambodia. For everything there is a middleman to make the paper-trail look legit. Even in the developed world financial specialists and LE struggle to unravel well thought out schemes. It is hard to track and map international money flows or proving ownership of (shell)companies. After all it has to survive in court or all work is wasted. Easier to go catch some dumb criminals and secure your yearly LE budget.....
"What the eyes see and the ears hear, the mind believes. Harry Houdini "
Here they do not care where the money comes from as long as they can take a cut. But this is slowly changing thus smaller players will get pinched. Do not expect these laws and regulations to hit multi-million USD or higher contracts. For those amounts and with the right connections you can do as you please.
To see how this goes in the real world have a look at the Chinese in Guyana:
Very interesting.china_love wrote: ↑Sun Jul 24, 2022 2:26 amThat is how western companies do their business in 3rd world countries too. Even in Cambodia for almost 25 years the biggest "investment firm" was western owned.
administrator wrote: ↑Sat Jul 23, 2022 9:53 pm@Ephrium "To money launder you have to explain completely how your money is obtained."
Sure, if you are inside China or the developed world. However this is Cambodia. For everything there is a middleman to make the paper-trail look legit. Even in the developed world financial specialists and LE struggle to unravel well thought out schemes. It is hard to track and map international money flows or proving ownership of (shell)companies. After all it has to survive in court or all work is wasted. Easier to go catch some dumb criminals and secure your yearly LE budget.....
"What the eyes see and the ears hear, the mind believes. Harry Houdini "
Here they do not care where the money comes from as long as they can take a cut. But this is slowly changing thus smaller players will get pinched. Do not expect these laws and regulations to hit multi-million USD or higher contracts. For those amounts and with the right connections you can do as you please.
To see how this goes in the real world have a look at the Chinese in Guyana:
Of course such developments could never happen in Cambodia, where officials and ministers cannot be that easily corrupted.
I read the inputs here including watching the whole video. The video is about a totally different issue of vying parties wanting to make money in Guyana by cashing in on gold and mining industries via bribing officials including by one Su ZhiRong.
What does the tall buildings in Snooky gotta do with these? Others have concurred it seems no one is going to move in at least not a city number.
1. It is not money laundering. If I want to launder money I want it immediately to keep it safe and use immediately, such as casino or buying opposite teams, not wait for 1 plus 3 for it to be completed then another 3 for fictitious revenue generating =7 years to use it.
2. The amount of red herring plus trouble by securing bank loan, land leasem government approval, fictitious guest stays, fictitious invoices which all have to be coherent is overwhelming, compared to betting on opposite teams
3. If I build a whole building to launder I am losing a lot of money in the process
4. The whole building may be confiscated
5. A building is going to attract a lot of attention.
I think the buildings, after a review of inputs here, is most likely for the rich to park their money and/or show off.
What does the tall buildings in Snooky gotta do with these? Others have concurred it seems no one is going to move in at least not a city number.
1. It is not money laundering. If I want to launder money I want it immediately to keep it safe and use immediately, such as casino or buying opposite teams, not wait for 1 plus 3 for it to be completed then another 3 for fictitious revenue generating =7 years to use it.
2. The amount of red herring plus trouble by securing bank loan, land leasem government approval, fictitious guest stays, fictitious invoices which all have to be coherent is overwhelming, compared to betting on opposite teams
3. If I build a whole building to launder I am losing a lot of money in the process
4. The whole building may be confiscated
5. A building is going to attract a lot of attention.
I think the buildings, after a review of inputs here, is most likely for the rich to park their money and/or show off.
@Ephrium turning dirty money legit will always take a hefty cut. This is generally not a problem as the dirty revenue stream keeps going or the base sum was big enough. Only the result counts, clean money, because that is what you can spend.
You make it more complicated than necessary. Here is a fictional example:
https://www.quora.com/How-could-someone ... ding-costs
You do not need a bank loan as you have money for construction, land will be in a local partnership which will also ensure nobody confiscates the building. Even if they would the land would not be lost so you can perform the same trick under a different shell company. Big names here are simply untouchable at the moment so forget anybody comes in to seize land.
Parking money in real estate is daft. You have all the upkeep to fund when there are no / not enough tenants. Hence laundring is most likely in the construction phase. What happens to the building is of no concern as you moved on.
True, some locals like to build big stuff to show off. But that does not apply to Chinese.
You make it more complicated than necessary. Here is a fictional example:
https://www.quora.com/How-could-someone ... ding-costs
You do not need a bank loan as you have money for construction, land will be in a local partnership which will also ensure nobody confiscates the building. Even if they would the land would not be lost so you can perform the same trick under a different shell company. Big names here are simply untouchable at the moment so forget anybody comes in to seize land.
Parking money in real estate is daft. You have all the upkeep to fund when there are no / not enough tenants. Hence laundring is most likely in the construction phase. What happens to the building is of no concern as you moved on.
True, some locals like to build big stuff to show off. But that does not apply to Chinese.
You gotta explain how to launder in Construction phase, how to get the money clean?
Any it is gonna take Years as explained. The procedure to have bank loan plus land lease plus building approval 1 year. Construction plus 3 years etc.
It is important to get it done ASAP as if you are caught as many do it can be gone.
How is building a building to launder attractive, as going to two different established online bookmaker and bet on opposing teams? You lose 1 percent perhaps? Throw away losing ticket and claim the winning one there you go.
Any it is gonna take Years as explained. The procedure to have bank loan plus land lease plus building approval 1 year. Construction plus 3 years etc.
It is important to get it done ASAP as if you are caught as many do it can be gone.
How is building a building to launder attractive, as going to two different established online bookmaker and bet on opposing teams? You lose 1 percent perhaps? Throw away losing ticket and claim the winning one there you go.
YellowFlu wrote: ↑Tue Jul 26, 2022 11:02 pm@Ephrium turning dirty money legit will always take a hefty cut. This is generally not a problem as the dirty revenue stream keeps going or the base sum was big enough. Only the result counts, clean money, because that is what you can spend.
You make it more complicated than necessary. Here is a fictional example:
https://www.quora.com/How-could-someone ... ding-costs
You do not need a bank loan as you have money for construction, land will be in a local partnership which will also ensure nobody confiscates the building. Even if they would the land would not be lost so you can perform the same trick under a different shell company. Big names here are simply untouchable at the moment so forget anybody comes in to seize land.
Parking money in real estate is daft. You have all the upkeep to fund when there are no / not enough tenants. Hence laundring is most likely in the construction phase. What happens to the building is of no concern as you moved on.
True, some locals like to build big stuff to show off. But that does not apply to Chinese.
@Ephrium
Think bigger. You do not build one building, you do tens or hundreds across the country. As soon as any bills are paid during any phase that money has become clean. No need to wait till the building is finished. As said before no bank loan necessary as you have funds already. Land papers can be rushed if you have good contacts and pay a fee....
A casino is nice but not for those numbers (tens or hundreds of millions). Besides that, online casinos will have a paper trail too and you need to know which ones can be trusted. They come and go as LE cracks down on them. Would be a bummer if you deposited and they do a runner. Like the fake crypto / investment websites.
@redrun thank you for the valuable contribution to this thread.
Think bigger. You do not build one building, you do tens or hundreds across the country. As soon as any bills are paid during any phase that money has become clean. No need to wait till the building is finished. As said before no bank loan necessary as you have funds already. Land papers can be rushed if you have good contacts and pay a fee....
A casino is nice but not for those numbers (tens or hundreds of millions). Besides that, online casinos will have a paper trail too and you need to know which ones can be trusted. They come and go as LE cracks down on them. Would be a bummer if you deposited and they do a runner. Like the fake crypto / investment websites.
@redrun thank you for the valuable contribution to this thread.
Don't most mafia type groups use their own shell companies to supply the goods and labor at inflated prices, therefore flowing the bad money into good and not complaining when the goods/services don't turn up, or when the construction company suddenly goes bankrupt after only doing half the work?
Pretty sure that's how it went down in Italy.
Pretty sure that's how it went down in Italy.
I read your Quora thread on construction when Bill's are paid, you pay others money, how it becomes clean? Even in the Quora thread comments are raised on this.
There is literally at least a hundred reputable online casinos which cannot run road, and many countries have government sports books too, say Malaysia and Singapore.
You do not have to buy everything at one time either.
You buy 100k each on two teams, and say theres 5 matches a day. That's 1 million wagered and expected to get back minus 1 per cent. 100 days will reach your 100 million of black money. Much Faster, easier and draws less attention. You need it fast, remember if you are caught your money is gone.
There is literally at least a hundred reputable online casinos which cannot run road, and many countries have government sports books too, say Malaysia and Singapore.
You do not have to buy everything at one time either.
You buy 100k each on two teams, and say theres 5 matches a day. That's 1 million wagered and expected to get back minus 1 per cent. 100 days will reach your 100 million of black money. Much Faster, easier and draws less attention. You need it fast, remember if you are caught your money is gone.
YellowFlu wrote: ↑Wed Jul 27, 2022 10:22 am@Ephrium
Think bigger. You do not build one building, you do tens or hundreds across the country. As soon as any bills are paid during any phase that money has become clean. No need to wait till the building is finished. As said before no bank loan necessary as you have funds already. Land papers can be rushed if you have good contacts and pay a fee....
A casino is nice but not for those numbers (tens or hundreds of millions). Besides that, online casinos will have a paper trail too and you need to know which ones can be trusted. They come and go as LE cracks down on them. Would be a bummer if you deposited and they do a runner. Like the fake crypto / investment websites.
@redrun thank you for the valuable contribution to this thread.
I think you have misunderstood something. It is very difficult to take large sums of money out of China. The first objective is to extract it out of China.Ephrium wrote: ↑Wed Jul 27, 2022 3:59 pmI read your Quora thread on construction when Bill's are paid, you pay others money, how it becomes clean?
Tell the Chinese government that you have a $10 million construction project in Cambodia. Get approval and bring the money to Cambodia where you build some garbage for $500k. You have now extracted $9.5 million to a dollar economy. You have also invested into a project that can be delayed and made more expensive on paper to complete, offering the opportunity to continue siphoning money out of China.
It’s only when you have the $9.5 million on hand in Cambodia and wish to bring it elsewhere that laundry becomes relevant. That’s when you buy other businesses like Sharky’s and start padding the declared, taxed, income with portions of your $9.5 million cash.
Then you use your laundered money to buy property in Portugal for $300k and obtain citizenship. Move to Mexico and drink tequila on the beach or drive recklessly around the streets of Dubai.
Or you stay in Cambodia and live like a king and we only hear about it when you crash your McLaren or when your lion escapes.
I read what was written and analyzed but I do not get it.
You see, IF 100million was bribery money given by Shu Zhirong. My legitimate business is 10million. Now I get bank approval to transfer 30 million to build a skyscraper, with the inflated cost included. The very next thing the bank is going to ask me where did I get the surplus 20 million from? I am going to be investigated straightaway.
Say the 100 million is clean money from my legitimate business. Why will I be so desperate to transfer it out of China? Also, to transfer it through building buildings with inflated Bill's I am going to dirty it instead. I can transfer it legitimately by buying various legitimate properties then selling rather than dirtying it. And theres no dire need to transfer all out anyways.
You see, IF 100million was bribery money given by Shu Zhirong. My legitimate business is 10million. Now I get bank approval to transfer 30 million to build a skyscraper, with the inflated cost included. The very next thing the bank is going to ask me where did I get the surplus 20 million from? I am going to be investigated straightaway.
Say the 100 million is clean money from my legitimate business. Why will I be so desperate to transfer it out of China? Also, to transfer it through building buildings with inflated Bill's I am going to dirty it instead. I can transfer it legitimately by buying various legitimate properties then selling rather than dirtying it. And theres no dire need to transfer all out anyways.
Alexandra wrote: ↑Wed Jul 27, 2022 4:26 pmI think you have misunderstood something. It is very difficult to take large sums of money out of China. The first objective is to extract it out of China.Ephrium wrote: ↑Wed Jul 27, 2022 3:59 pmI read your Quora thread on construction when Bill's are paid, you pay others money, how it becomes clean?
Tell the Chinese government that you have a $10 million construction project in Cambodia. Get approval and bring the money to Cambodia where you build some garbage for $500k. You have now extracted $9.5 million to a dollar economy. You have also invested into a project that can be delayed and made more expensive on paper to complete, offering the opportunity to continue siphoning money out of China.
It’s only when you have the $9.5 million on hand in Cambodia and wish to bring it elsewhere that laundry becomes relevant. That’s when you buy other businesses like Sharky’s and start padding the declared, taxed, income with portions of your $9.5 million cash.
Then you use your laundered money to buy property in Portugal for $300k and obtain citizenship. Move to Mexico and drink tequila on the beach or drive recklessly around the streets of Dubai.
Or you stay in Cambodia and live like a king and we only hear about it when you crash your McLaren or when your lion escapes.
If I was stinking rich I would buy a pet Kylie Minouge and keep her on a leash.
pew, pew, pew, pew!
- ផោមក្លិនស្អុយ
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If I was stinking rich then I’d hire YTP to walk my pet Kylie
Get your own Minouge.ផោមក្លិនស្អុយ wrote: ↑Thu Jul 28, 2022 12:42 pmIf I was stinking rich then I’d hire YTP to walk my pet Kylie
pew, pew, pew, pew!
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